Sunday 22 January 2017 11:00 pm

The five beauty tech startups joining L'Oreal and Founders Factory's incubator

Five startups hoping to disrupt the multi-billion pound world of beauty have been chosen by L'Oreal and Founders Factory, the London tech incubator from entrepreneurs Brent Hoberman and Henry Lane Fox.

Preemadonna, a startup creating a nailbot that can print designs onto nails via a mobile phone, and InistU, an online skincare company, are among the five startups whittled down from 180 applicants who will be hot-housed on the six month programme.

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“We believe that open innovation will be key to identify new disruptive ideas and co-develop new services to meet the aspirations of our consumers," said L'Oreal's chief digital officer Lubomira Rochet.

"We are excited to champion the next generation of beauty entrepreneurs through our partnership with Founders Factory and accelerate their development by bringing them our expertise of the beauty industry.”

Also joining the incubator are an app-based beauty community called Veleza; Cosmose, an app that can be used by retailers to monitor shopper's locations and connect the online and offline advertising worlds; and Tailify, which connects brands and social media influencers.

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“We are only accepting five startups to join our programme per year and so competition is fierce," said Henry Lane Fox, co-founder and chief executive of Founders Factory.

"We understand how incredibly hard it is to build a successful business and know that every founder feels the strain in terms of capital, time and resource. By coupling the expertise of our operating team with the knowledge and scale of L’Oréal, we provide an unrivalled platform for startups looking to make global impact.”